ePlus Technology Amends Credit Facility With GE Capital

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
ePlus Technology Amends Credit Facility With GE Capital Commercial Distribution Finance

HERNDON, Va., Aug. 5, 2014 (GLOBE NEWSWIRE) -- ePlus inc. (Nasdaq: PLUS ) today announced its subsidiary, ePlus Technology, inc., amended its credit facility with GE Capital Commercial Distribution Finance (GECDF), which was originally entered into on July 23, 2012. The GECDF credit facility is comprised of a floor plan component and an accounts receivable component and is used to finance inventory and accounts receivable related to the sales of products and services in its technology segment.

The amendment provides ePlus Technology with a total credit limit of $225 million, an increase of $50 million over the prior agreement, with a sub-limit of $30 million for the accounts receivable component. ePlus inc. will continue to guarantee this facility up to a limit of $10.5 million. The amounts available under the agreements may be limited by the asset value of the inventory purchased and accounts receivable, and may be further limited by certain covenants and terms and conditions of the facility. Either party may terminate with proper notice.  

"This amendment further increases our capacity to efficiently and effectively support our customer base in order to provide advanced solutions," said Elaine D. Marion, chief financial officer. "We are grateful to GECDF for their continued support over the past 10 plus years and greatly value our long-term relationship."

About GE Capital, Commercial Distribution Finance

GE Capital, Commercial Distribution Finance provided $34 billion in financing for more than 30,000 dealers and more than 3,000 distributors and manufacturers in the U.S. and Canada in 2013. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. For more information, visit http://www.gecdf.com/ or follow company news via Twitter ( http://twitter.com/GEInventoryFin ).

About ePlus inc.

ePlus is a leading integrator of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering complex information technology solutions, which may include managed and professional services and products from top manufacturers, flexible financing, and proprietary software. Founded in 1990, ePlus has more than 900 associates serving commercial, state, municipal, and education customers nationally. The Company is headquartered in Herndon, VA. For more information, visit www.eplus.com , call 888-482-1122, or email info@eplus.com . Connect with ePlus on Facebook at www.facebook.com/ePlusinc and on Twitter at www.twitter.com/ePlus . 

ePlus ® and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies and products mentioned herein may be the trademarks of their respective owners.

Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from financial market disruption and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, and restrictions on our access to capital necessary to fund our operations; our ability to consummate and integrate acquisitions; the possibility of goodwill impairment charges in the future; significant adverse changes in, reductions in, or losses of relationships with major customers or vendors; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration and other key strategies; our ability to reserve adequately for credit losses; our ability to secure our electronic and other confidential information; future growth rates in our core businesses; our ability to protect our intellectual property; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to adapt to changes in the IT industry and/or rapid change in product standards; our ability to realize our investment in leased equipment; our ability to hire and retain sufficient qualified personnel; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.

GE Capital, Americas Lisa Tibbitts 203-956-4582 ePlus inc. Kleyton Parkhurst, SVP 703-984-8150

Scroll down for more posts ▼

Top 10 Most Recent News Articles

24 Hour Fitness Pioneers New Club in Growing Summerlin

Updated Category News Views 35

The Next Era of Fitness in Las Vegas Well, color me intrigued. Mark Mastrov, that pioneer behind 24 Hour Fitness, has got a new trick up his sleeve—and it's not your run-of-the-mill gym. Summerlin, Las Vegas will soon house the Founders Club, a beast of a fitness facility sprawling over 45,000 square feet. Talk about bringing big energy to a place that's already...

Continue Reading
Chemours Class Action: Key Deadline Approaches Fast

Updated Category News Views 0

A Rocky Ride for Chemours Investors The ticker might read NYSE:CC, but right now, that might as well stand for "Caution, Cautious," if you ask me. Investors are on high alert with Chemours facing a class action lawsuit, and the stakes couldn’t be higher. Deadline's looming on December 7, 2026, for those gunning for lead plaintiff status. It's a tense time for anyone who...

Continue Reading
Purina's Docuseries Wins Big at Daytime Emmys

Updated Category News Views 0

Unleashing a Winning Streak Forget stock price fluctuations—Purina Films has struck gold. In a world where brand stories often fall flat or feel contrived, Purina's 'A Different Breed' docuseries just bagged three Daytime Emmy® Awards. It's not every day you see corporate storytelling make a splash like this, but when you blend pets and riveting narratives, magic...

Continue Reading
Actinium Lures Talent with Inducement Stock Option

Updated Category News Views 66

New hires in biotech often get more than just a desk and a computer—they might just snag a piece of the company pie, too. Actinium Pharmaceuticals, the folks dabbling in the mysterious world of targeted radiotherapies, pulled a classic move in welcoming a fresh face to their roster. On October 26, 2026, they rolled out an inducement stock option, a juicy carrot to lure...

Continue Reading
Neuberger Fund Ups Distribution Amid Market Challenges

Updated Category News Views 61

Neuberger Boosts Distribution: What's Driving This? I ain't about to sugarcoat it: the Neuberger Next Generation Connectivity Fund (NYSE: NBXG) decided to jack up its monthly distribution rate to $0.132 per share. This announcement, hitting wallets on November 30, 2026, has a record and ex-date of November 16. Now, that's a good ol' reliable payout for folks holding NBXG...

Continue Reading
Bybit Unveils Platform Vision at HK FinTech Week

Updated Category News Views 63

Bybit's Strategic Participation at HK FinTech Week Here’s what’s got everyone buzzing: Bybit is stepping onto the big stage at the Hong Kong FinTech Week 2026. We're talking about the crème de la crème of fintech gatherings, where the sharpest minds of the financial world mingle, munch, and strategize under the buzzing neon of Hong Kong. Bybit's involvement is no...

Continue Reading
TPM Holdings Shifts Focus to AI in AEC Sector

Updated Category News Views 34

TPM's Bold Leap into AI and CRM Sometimes, you've got to throw the dice and see how they land. TPM Holdings has done just that, leaning hard into AI and CRM tech for the AEC industry—a move that's probably making some old-timers on Wall Street sit up a bit straighter. They've overhauled their entire strategy, focused on blazing new trails and seeing where the chips...

Continue Reading
Winter Travel Booms: Top Destinations Unveiled for 2026

Updated Category News Views 121

Winter Travel Surge: Rising Demand for Top Destinations Every year as the temperature drops, the excitement for winter travel heats up, and this season's no different. Booking patterns confirm that while people are dreaming of holiday magic, they're also gunning for sun when cold's on the horizon. New York City's holiday glitz leads the domestic charge, backed by a power...

Continue Reading
Hikvision Unveils AI Solutions Tailored for SMB Growth

Updated Category News Views 29

Technology Geared for Practical Application Look, I’ve been around the tech block a few times, and Hikvision's latest shindig over in Hangzhou is causing a stir. Their third annual SMB gala isn't just lip service. We're talking about AI innovations meant to scratch where it actually itches for small businesses. The name of the game here is practical value. And yeah,...

Continue Reading
Reddit's Stock Plunge Sparks Legal Scrutiny

Updated Category News Views 36

Reddit's Big Gamble: A Risky Shift Investors, grab your coffee, because Reddit (NYSE: RDDT) just gave us a real eyebrow-raiser, and no one's got a clue how deep this rabbit hole goes. They pulled the curtains back and went for a logged-in-only format, and the stock took a nosedive—a good 28% drop, just like that. If you've got a vested interest here, this is your cue to...

Continue Reading

Top 5 Most Recently Viewed Articles

Innovative Collaboration of Quaise Energy and Nevada Gold Mines

Updated Category News Views 146

Exploring New Frontiers in Energy In a groundbreaking partnership, Quaise Energy, Inc. and Nevada Gold Mines (NGM) are working together to advance decarbonization efforts in the mining sector. This collaboration focuses on a deep geothermal pilot plant aimed at reducing greenhouse gas emissions and minimizing reliance on fossil fuels for energy generation. Decarbonization...

Continue Reading
Roth/MKM Affirms Buy Rating as Hasbro Prepares for Growth

Updated Category News Views 37

Roth/MKM Confident in Hasbro's Turnaround Roth/MKM has reiterated its Buy rating on Hasbro (NASDAQ: HAS) with a solid price target of $82. The analysts expressed their confidence in Hasbro's turnaround prospects following recent discussions with the company's management. Holiday Season Boost As the holiday season approaches, Hasbro is expected to benefit significantly...

Continue Reading
The Future of VSAT: Projected Growth to USD 8.09 Billion

Updated Category News Views 152

Insights into the VSAT Market's Growth Potential Polaris Market Research recently outlined an exciting trajectory for the Very Small Aperture Terminal (VSAT) market, anticipating a remarkable expansion from USD 3.13 billion in 2024 to an impressive USD 8.09 billion by 2034. This growth is expected to occur at a compound annual growth rate (CAGR) of 10.00%. The VSAT...

Continue Reading
Playa Hotels Extends Exclusivity Period with Hyatt Corporation

Updated Category News Views 232

Playa Hotels & Resorts N.V. Extends Agreement with Hyatt Playa Hotels & Resorts N.V. (NASDAQ: PLYA), known for its luxurious all-inclusive resorts, has recently confirmed the extension of its exclusivity agreement with Hyatt Hotels Corporation (NYSE: H). This agreement focuses on a strategic discussion between the two parties centered on potential acquisition...

Continue Reading
Crusoe's Strategic Acquisition to Enhance AI Services and Growth

Updated Category News Views 315

Crusoe's Innovative Acquisition of Atero Crusoe, recognized as the leading vertically integrated AI infrastructure provider, has made a significant advancement by acquiring Atero, a specialist in GPU management and memory optimization for AI tasks. This strategic acquisition is poised to enhance Crusoe Cloud's managed AI services, driving reliability, efficiency, and...

Continue Reading